Economic Recovery Advisory Board

The Economic Recovery Advisory Board was a small group established by President-elect Obama in late Nov. 2008. Its mission is to offer independent nonpartisan advice on economic issues, especially regarding the Recession of 2008. It is a public platform for its head Paul Volcker. Volcker was the Chairman of the Federal Reserve from 1979-87, under presidents Jimmy Carter and Ronald Reagan. The staff director is Austan Goolsbee, professor of economics at the University of Chicago and a personal friend of Obama.